Thanks for the advice guys. I went to CH website and they have a refurbished compressor patrick suggests for about $160. Seems like a good deal. I guess I could go with that.
David, I understand that 30gal compressor is good, but I am going to be painting 1 plane per year and at present I am renting a room in an apartment - I can barely build there...

While we are on the subject of painting, where do you guys get the blue 3M tape? As with the paint gun, I am following the advice of this forum and would try to get it for masking. Wherever I've been, I only saw that wide blue tape, which is said to be no good. Where is the 1/2" and 1/4" tape?

Thanks again. Nikita.